News

Liberum acts as NOMAD and Sole Bookrunner on Gresham House plc’s £15m placing

22 May 2018 | Nomad and Sole Bookrunner

We are pleased to announce that Liberum has successfully raised £15m through the placing of 3.7m shares in Gresham House at 410p with new and existing institutional investors.

Gresham House is a specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, on a range of differentiated alternative investment strategies.

The Company will use the £15m proceeds to partially fund the acquisition of FIM Services Ltd, an alternative investment manager specialising in UK real assets, specifically forestry (83,000 hectares) and renewable energy generation (137MW).

FIM will be acquired for an initial consideration of £21 million (£11 million of cash and £10 million of Gresham House equity) with a deferred consideration of up to £4 million payable in cash and based upon certain performance criteria.

The acquisition will more than double Gresham House’s AUM, taking it from £649 million to c.£1.5 billion of assets under management. In addition, the acquisition will make the enlarged group profitable and significantly enhance EPS.

Liberum acted as NOMAD and Sole Bookrunner on the placing. Taurus London acted as Financial Advisor on the acquisition.

Liberum raises £40m for MADE

26 March 2018 | Made

Liberum is pleased to announce the successful completion of a private fundraising for MADE, raising equity proceeds of £40m

MADE is a leading European design brand, that has revolutionised the furniture and homewares markets. MADE operates in 7 European countries and reported 2017 net revenue of £127m, a growth of 40%, a break-even run rate and cash flow positive.

The transaction provides investment funds to accelerate growth and establish MADE’s digital brand leadership across Europe. MADE’s plans include expanding into additional European markets, developing the MADE brand further including the opening of flagship showrooms and continued investment in technology to retain an industry leading platform.

The fund raise included a new tier 1 global institutional investor with an established history of making long term global investments, with further commitments from existing investors.

MADE has had a strong start to 2018 and is well positioned to continue to benefit from the transition from high street to online within the homewares market and capitalise on the growing confidence in digital retail.

Liberum acted as sole bookrunner on this transaction.

Liberum Team

David Parsons Head of Equities

Clayton BushManaging Director, Investment Banking

Richard CrawleyCo-Head Investment Banking

Steve PearceCo-Head Investment Banking

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Liberum acts as Sole Bookrunner on Asiamet’s £7.2m fundraise

26 March 2018 | Joint Broker

Liberum is pleased to announce that it acted as sole bookrunner in relation to a placing for Asiamet Resources Limited (“Asiamet”), raising £7.2 million (c.US$10 million) of gross proceeds for the Company at 11p per share.

Asiamet is a dynamic junior company focussed on the exploration and development of its portfolio of large copper-gold deposits on the Indonesian islands of Kalimantan and Sumatra, adjacent to the key growth markets in Asia. Gross proceeds of the Placing and existing cash reserves of c.US$2.0m are expected to be utilised as follows: • US$4.7 million for increasing ownership at its Beutong copper porphyry project (from 40% to 80%) and accelerating drilling at the property including metallurgical programmes; • US$2.5 million for regional exploration on the KSK Contract of Work Area; • US$3.3 million to commence optimisation and early works in relation to the Company’s BKM copper project and completion of the Bankable Feasibility Study; and • US$ 1.5 million for general working capital purposes including the costs of the Placing. The Company has been listed on AIM since 2006 and now has a market capitalisation of c.£120m.

Liberum Capital Limited is authorised and regulated by the Financial Conduct Authority / Registered in England & Wales No. 5912554 / Liberum Capital Inc. is a FINRA Member Firm and is regulated by the Securities and Exchange Commission (SEC)